Laura Trezevant 6606 London Drive

Memphis, Tennessee 38120

June 18, 2018

Planning Commission

℅ Cameron Ross

1920 South Germantown Rd.

Germantown, TN 38138

Re: Rezoning Effort for The Cordova Triangle

To Whom It May Concern:

Certainly, I appreciate the neighbor’s efforts to maintain their property values, as it is our intent to not only

maintain, but to improve surrounding properties by a value-added development not only for the neighbors,

but as a new revenue-generating asset to the City. We respectfully request a denial of the rezoning effort

from T4 backwards to residential.

My niece and I have been looking for years for a commercially zoned property for our first development

together. We found an owner willing to sell the southernmost tip of the property known as The Cordova

Triangle, containing approximately .75 acres. The Seller set the price high, so I called the City to find out

the zoning and what uses were permitted. I was informed that it was part of the new Smart Growth plan

and was in the SmartCode T4 zoning with many allowable commercial uses, so we hired a lawyer to pursue

our purchase of the site and closed on the land.

We were both looking forward to seeing what we could do to create a project that would be a huge visual

improvement to the Gateway of Germantown, and a contributing asset to the City. My first action after

closing, was to meet with the City to find out what would excite them as the entry to Germantown. They

provided me with the General Urban Use Standards which spells out the building requirements and

allowable uses including apartments, lodging, schools, offices, fire station, libraries, retail, restaurant, and

banks.

As you know, the City of Germantown realized their development restrictions were causing harm to its

residents putting the primary tax burden on them. Increased tax revenues pay for added police service,

better fire department, better libraries, better ambulance service, the new elementary school and school

system, topnotch community amenities, and improved quality of life. Germantown had empty, concrete

parking lots, stagnation, rising property taxes, a tax plateau, and decided to do something about it.

Confined to their existing boundaries, the City decided if they can’t grow outward, they would have to grow

upward. They used tax payer’s dollars to hire St. Louis-based Lawrence Group, to craft “Vision 2020,” a

“Smart Growth” plan, and “a movement designed to transform the city’s commercial core and the put the

urban back into suburban.” The dense commercial re-development plan will generate the tax revenue to

grow and sustain the City of Germantown for years to come. With significant public participation, the

Smart Growth Plan was adopted in 2012.

Our property is part of the core plan and Vision 2020. We hired an architect familiar with the SmartCode,

at the City’s request, to present a plan for development of the site which would fulfill the requirements of

the T4 zoning. We worked with the developers of both Thornwood and Travure to benefit from their

knowledge of planning and building under the new zoning. Each of these new developments have added

tremendous value to their respective neighborhoods by adding a multi-use project within walking distance.

In fact, they created a new demand for adjacent housing at an increase in home values. The Nottaway HOA

head stated that homes during and after construction sold for more money than the prior purchase price and

that Travure has had a net positive effect on their neighborhood. Many homes surrounding Travure are

$1M residences.

The kind of residential neighbors our neighbors will want are not going to live right on Germantown

Parkway with more than 53,000 vehicles per day roaring past just outside their walls, particularly at night

when they are attempting to sleep.

My niece and I will lose significant money if these properties revert to a residential zoning. We finalized

the purchase because it was a commercially zoned piece of property, and at a commercially zoned price,

with the intent of creating value to the site and to the area with our investment of money, time, and effort.

We are ready and willing to fully co-operate with the City and our neighbors on any reasonable

development requests, but it must make sense for all three parties including the individuals who are

spending their hard-earned money to create the new project and improve the site.

Attached, for your convenience is the rendering of the Vision, the core development plans, and the new

zoning map.

Thank you for your consideration.

Sincerely,

Laura Trezevant